Townsquare Media (NYSE:TSQ) Shares Cross Below Two Hundred Day Moving Average – Should You Sell?

Shares of Townsquare Media, Inc. (NYSE:TSQ) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.43 and traded as low as $6.42. Townsquare Media shares last traded at $6.47, with a volume of 56,360 shares trading hands.

Analysts Set New Price Targets

TSQ has been the topic of a number of analyst reports. Zacks Research cut Townsquare Media from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen upgraded Townsquare Media from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Barrington Research reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Townsquare Media in a research note on Monday, May 11th. Finally, Weiss Ratings raised Townsquare Media from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, Townsquare Media presently has an average rating of “Reduce” and an average price target of $10.00.

Townsquare Media Price Performance

The firm has a market cap of $110.64 million, a PE ratio of -15.05, a P/E/G ratio of 2.60 and a beta of 1.20. The stock has a 50-day moving average price of $6.61 and a 200 day moving average price of $6.43.

Townsquare Media (NYSE:TSQ) last released its earnings results on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.04). Townsquare Media had a negative return on equity of 7.41% and a negative net margin of 1.59%.The business had revenue of $96.10 million for the quarter, compared to analysts’ expectations of $96.46 million. As a group, equities research analysts anticipate that Townsquare Media, Inc. will post 0.21 earnings per share for the current year.

Townsquare Media Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 27th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, July 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 12.4%. Townsquare Media’s dividend payout ratio is currently -186.05%.

Insider Activity

In other news, COO Erik Hellum sold 35,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $6.44, for a total transaction of $225,400.00. Following the transaction, the chief operating officer directly owned 914,542 shares in the company, valued at $5,889,650.48. This represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Robert L. Worshek sold 34,299 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $6.62, for a total transaction of $227,059.38. Following the completion of the sale, the chief accounting officer directly owned 142,722 shares in the company, valued at $944,819.64. This represents a 19.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 30.30% of the company’s stock.

Hedge Funds Weigh In On Townsquare Media

A number of hedge funds have recently made changes to their positions in TSQ. Goldman Sachs Group Inc. increased its position in Townsquare Media by 4.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 48,152 shares of the company’s stock worth $248,000 after purchasing an additional 2,049 shares in the last quarter. Marshall Wace LLP raised its holdings in Townsquare Media by 6.3% in the fourth quarter. Marshall Wace LLP now owns 37,953 shares of the company’s stock valued at $195,000 after buying an additional 2,256 shares during the period. Gabelli Funds LLC lifted its position in Townsquare Media by 3.8% during the first quarter. Gabelli Funds LLC now owns 63,300 shares of the company’s stock valued at $344,000 after buying an additional 2,300 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Townsquare Media by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 45,847 shares of the company’s stock valued at $249,000 after buying an additional 2,319 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Townsquare Media by 23.2% during the first quarter. Rhumbline Advisers now owns 18,036 shares of the company’s stock worth $147,000 after buying an additional 3,393 shares during the period. Institutional investors and hedge funds own 71.69% of the company’s stock.

About Townsquare Media

Townsquare Media, Inc (NYSE: TSQ) is a diversified media and entertainment company that operates primarily in small and mid-sized markets across the United States. The company owns and manages over 300 local radio stations that deliver music, news, sports and community programming to listeners. In addition to its core broadcasting business, Townsquare Media provides digital marketing solutions and advertising services through its proprietary platforms and specialized agencies, helping local businesses connect with consumers via targeted online campaigns.

Founded in 2010 and headquartered in Purchase, New York, Townsquare Media has grown its footprint through strategic acquisitions and the development of a broad digital portfolio.